Singapore Tribunal Rejects Attempt to Prevent Oversight of PNG Sustainable Development Fund

Sir Mekere Morauta 

The Attorney General, Hon Ano Pala CMG MP, has called on Sir Mekere Moruata to accept transparency following an arbitration decision in Singapore this week that have prevented attempts to evade state oversight of the PNGSDP.

In its ruling on 5 May, the International Centre for Settlement of Investment Disputes arbitral tribunal unanimously accepted Papua New Guinea's arguments and denied jurisdiction, and accordingly rejected the claim brought by PNGSDP to remove state oversight of the program.

Attorney General Pala said Sir Mekere must now step back and enable the people of Papua New Guinea to regain its rightful oversight of PNGSDP.

"We are all accountable before the law and it is time for Sire Mekere Morauta to do the right thing and stop fighting oversight and accountability at the PNGSDP.

"Sir Mekere must accept the decision of the tribunal and stop wasting the people's money and we are very concerned at money that has already gone missing.

"We know that 15 million Kina (US$5.66) was spent on legal and professional fees between 2013 and 2014, and we have no idea of how much money has been wasted since then.

"We do know that since 2013 around 500 million Kina (US$186) in drop in assets since 2013, the wrongful transfer of 105 million Kina (US$39) from the Long Term Fund and questionable expenditure of 115 million Kina (US$43)."

"These are funds that should be used for the benefit and welfare of the people of Western Province, not to finance administrative, operational and legal costs.

"The Government of Papua New Guinea will continue to seek transparency and obtain information on what has happened to millions of Kina of PNGSDP assets."

The Attorney General said the Government of Papua New Guinea will continue to pursue its claim to review decisions that have been made by the Board including the transfer of PNGSDP operations to Australia.

"Importantly, our Government is determined to ensure the free transfer of 33 per cent ownership in OTML to the people of Western Province."

The following Factsheet on attempts by PNGSDP to prevent State oversight of Finances and assets provides an overview of current overview of the situation.

Hon Ano Pala, CMG MP

Attorney General